Boston Properties, Inc. (NYSE:BXP) – Analysts at DA Davidson raised their FY2018 earnings estimates for Boston Properties in a research report issued on Thursday, November 1st. DA Davidson analyst B. Oxford now anticipates that the real estate investment trust will post earnings per share of $6.39 for the year, up from their previous estimate of $6.38. DA Davidson also issued estimates for Boston Properties’ Q3 2019 earnings at $1.73 EPS, Q4 2019 earnings at $1.75 EPS, FY2019 earnings at $6.83 EPS, Q1 2020 earnings at $1.77 EPS, Q2 2020 earnings at $1.86 EPS, Q3 2020 earnings at $1.92 EPS and FY2020 earnings at $7.54 EPS.
Boston Properties (NYSE:BXP) last announced its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.05. Boston Properties had a return on equity of 6.75% and a net margin of 20.18%. The firm had revenue of $686.28 million for the quarter, compared to analysts’ expectations of $674.30 million. During the same period last year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year.
A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Boston Properties from a “neutral” rating to an “overweight” rating in a report on Friday, October 5th. Jefferies Financial Group upgraded shares of Boston Properties from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a report on Monday, October 15th. Scotiabank started coverage on shares of Boston Properties in a report on Tuesday, October 16th. They set a “sector perform” rating for the company. SunTrust Banks increased their target price on shares of Boston Properties to $137.00 and gave the stock a “hold” rating in a report on Monday, August 20th. Finally, Barclays reiterated a “buy” rating and set a $125.00 target price on shares of Boston Properties in a report on Sunday, October 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Boston Properties presently has an average rating of “Hold” and an average price target of $134.67.
Boston Properties stock opened at $119.01 on Friday. The company has a quick ratio of 4.02, a current ratio of 3.74 and a debt-to-equity ratio of 1.36. The stock has a market cap of $18.38 billion, a PE ratio of 19.20, a PEG ratio of 3.12 and a beta of 0.57. Boston Properties has a 1-year low of $111.57 and a 1-year high of $132.82.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Boston Properties by 1.1% in the second quarter. BlackRock Inc. now owns 15,893,856 shares of the real estate investment trust’s stock worth $1,993,407,000 after buying an additional 169,036 shares during the period. Van ECK Associates Corp purchased a new stake in Boston Properties in the second quarter worth about $4,049,000. Nuance Investments LLC lifted its holdings in Boston Properties by 131.4% in the second quarter. Nuance Investments LLC now owns 79,627 shares of the real estate investment trust’s stock worth $9,987,000 after buying an additional 45,214 shares during the period. Andra AP fonden lifted its holdings in Boston Properties by 19.8% in the second quarter. Andra AP fonden now owns 53,900 shares of the real estate investment trust’s stock worth $6,760,000 after buying an additional 8,900 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new stake in Boston Properties in the second quarter worth about $8,189,000. Institutional investors and hedge funds own 94.36% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.20 annualized dividend and a yield of 2.69%.
Boston Properties Company Profile
Boston Properties is a fully integrated real estate company, organized as a real estate investment trust, that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.2 million square feet and consisting of 166 office properties (including nine properties under construction), six residential properties (including three properties under construction), five retail properties and one hotel.
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